Taipei food and beverage insight


Market Sizing, Competition, Barrier of Entry, and Recommendation

11 Oct 2020


*details about the number are in analysis folder
*details about the code (web scarping, data pipeline, etc) are in github page

Overview

Market Size

Competition

Rent cost and ROI

Recommendation

Food industry is the most popular choice for Taiwanese young entrepreneur


"76 percent of young Taiwanese have either already started their own business or would like to do so... with nearly 91 percent of respondents who indicated they wanted to run their own business saying that they are interested in selling street food or local dishes"

Taipei Times, 2018

Entrepreneurship is not easy and good information could help


"... while 60 percent who have tried failed to turn a profit."

Taipei Times, 2018


"...common reasons new businesses do not make it: not knowing your market enough, client, competition, buying power..."

Forbes, 2019

This report try to help Taiwanese entrepreneur by informing important information
Especially in the food and beverage industry


*the term "restaurant" in here mean food and beverage business (could mean food stall or other)

This report will cover

  • Restaurant market size, the number of people that are likely to buy the product
  • Competitor per area, the number of existed restaurant in the area
  • Cost to open a restaurant in some area, give estimation of opening a restaurant cost
  • Recommendation for opening a restaurant, things that could be considered

Overview

Market Size

Competition

Rent cost and ROI

Recommendation

Most passerby concentrated on Taipei mid-west area
The difference between mid-west area is not really that significant


The buying power (per person) almost equal everwhere
With per meal budget about 200 NTD


Mid-west area have the highest market size
About 5 times of the other area


Overview

Market Size

Competition

Rent cost and ROI

Recommendation

Most restaurants are located in Taipei mid area


Based on competition, some area might not suitable for setup new business
There are some area that have high competition


Mid-east area have less competition level
Assumption is based on market size per restaurant in the area


Overview

Market Size

Competition

Rent cost and ROI

Recommendation

The cost to open a shop in west area is high
They cost about 2 times compare to the other area


Taipei mid-east area might have a good ROI
You might want to look more the village area (the green is better)


Overview

Market Size

Competition

Rent cost and ROI

Recommendation

If you really just start (little experience / fame), try east area
This is the area to start small, have lowest rent cost, but pretty good ROI


If you want to have a medium start, mid area is a good place
The rent cost might be higher, but the market size is higher


Use passerby buying power to set product pricing
Or you could pick the area that fit your product pricing


Consider take away / delivery market
The market size is huge, especially in this Covid-19 situation


“We experienced 5,000 percent growth in the past 24 months,” Yu said. “That’s more than the previous six years combined.”

Discover Advanced Trends in E-economy Summit, 2020

Thank You


feel free to reach me via laurent.saerang@gmail.com